Globalization

Globalization or globalisation is the process of interaction and integration between people, companies, and governments worldwide. Globalization has grown due to advances in transportation and communication technology. With increased global interactions comes the growth of international trade, ideas, and culture. Globalization is primarily an economic process of interaction and integration that's associated with social and cultural aspects. However, conflicts and diplomacy are also large parts of the history of globalization, and modern globalization

Economically, globalization involves goods and services, and the economic resources of capital, technology, and data.[1][2] The steam locomotive, steamship, jet engine, and container ships are some of the advances in the means of transport while the rise of the telegraph and its modern offspring, the Internet and mobile phones show development in telecommunications infrastructure. All of these improvements have been major factors in globalization and have generated further interdependence of economic and cultural activities around the globe. [3][4][5]

Though many scholars place the origins of globalization in modern times, others trace its history long before the European Age of Discovery and voyages to the New World, some even to the third millennium BC.[6][7] Large-scale globalization began in the 1820s.[8] In the late 19th century and early 20th century, the connectivity of the world's economies and cultures grew very quickly. The term globalization is recent, only establishing its current meaning in the 1970s.[9]

In 2000, the International Monetary Fund (IMF) identified four basic aspects of globalization: trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge.[10] Further, environmental challenges such as global warming, cross-boundary water, air pollution, and over-fishing of the ocean are linked with globalization.[11] Globalizing processes affect and are affected by business and work organization, economics, socio-cultural resources, and the natural environment. Academic literature commonly subdivides globalization into three major areas: economic globalization, cultural globalization, and political globalization.[12]

The term globalization derives from the word globalize, which refers to the emergence of an international network of economic systems.[13] One of the earliest known usages of the term as a noun was in a 1930 publication entitled Towards New Education, where it denoted a holistic view of human experience in education.[14] The term 'globalization' had been used in its economic sense at least as early as 1981, and in other senses since at least as early as 1944.[15] Theodore Levitt is credited with popularizing the term and bringing it into the mainstream business audience in the later half of the 1980s. Since its inception, the concept of globalization has inspired competing definitions and interpretations. Its antecedents date back to the great movements of trade and empire across Asia and the Indian Ocean from the 15th century onward.[16][17] Due to the complexity of the concept, various research projects, articles, and discussions often stay focused on a single aspect of globalization.[18]

Sociologists Martin Albrow and Elizabeth King define globalization as "all those processes by which the people of the world are incorporated into a single world society."[1] In The Consequences of Modernity, Anthony Giddens writes: "Globalization can thus be defined as the intensification of worldwide social relations which link distant localities in such a way that local happenings are shaped by events occurring many miles away and vice versa."[19] In 1992, Roland Robertson, professor of sociology at the University of Aberdeen and an early writer in the field, described globalization as "the compression of the world and the intensification of the consciousness of the world as a whole."[20]

In Global Transformations, David Held and his co-writers state:

This page was last edited on 15 July 2018, at 05:49 (UTC).
Reference: https://en.wikipedia.org/wiki/Globalization under CC BY-SA license.

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